Bill and Account Collector

Your Fit

Income

$44K

Preparation

Some

Growth

-9.6%

Definition
Your fit with this career
How much they earn
What they do
Job satisfaction
How to become

What is a Bill and Account Collector?

A Bill and Account Collector is responsible for managing and collecting payments on overdue bills and accounts. They work with individuals or businesses to settle debts and maintain financial accounts.

Your test results

Why this fit score?

The fit report shows your areas of fit and misfit with Bill and Account Collector.

Fit report

Test scores

The scores report summarizes what we learned about you. It shows your results on everything measured in the career test.

Scores report

How much does a Bill and Account Collector earn

According to the U.S. Bureau of Labor Statistics, typical income (in USD) is...

Bottom 10%	Bottom 25%	Median (average)	Top 25%	Top 10%
$32K per year	$37K per year	$44K per year	$51K per year	$62K per year

Compared to other careers: Median is $3.81K below the national average.

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What does a Bill and Account Collector do?

Work environment

Bill and Account Collectors typically work in an office setting, often within a call center environment. Their work involves significant amounts of time on the phone or using computers to track down and communicate with debtors, negotiate payment plans, and update account records.

Quick task list

Contacts individuals or businesses with overdue accounts.
Explains debts owed and negotiates payment plans or settlements.
Keeps accurate records of communications, payments, and account status.
Understands and adheres to all debt collection laws and regulations.
Uses computer systems to manage and update account information.

See full list of tasks with expert relevance ratings

Areas of specialization

Consumer Debt Collection: Focusing on personal debts such as credit card, medical, or utility bills.
Commercial Debt Collection: Specializing in business-to-business debts.
Medical Billing Collection: Handling overdue payments in healthcare settings.
Legal Debt Recovery: Working alongside legal professionals to recover debts through legal means.
Credit Management: Managing and advising on credit accounts to minimize overdue payments.

Description

Bill and Account Collectors play a critical role in the financial ecosystem, helping businesses manage their accounts receivable and individuals maintain their credit health. The occupation requires a balance of firmness and empathy, as collectors must be persistent in pursuing overdue payments while remaining sensitive to the circumstances of debtors. Effective communication skills are essential, as the role involves negotiation and conflict resolution.

This career demands a thorough understanding of relevant laws and ethical practices in debt collection. Collectors must be adept at using various tracking and database software to manage accounts and maintain accurate records. The role can be challenging due to the nature of dealing with overdue payments, but it can also be rewarding for those who excel in negotiation and problem-solving.

The occupation offers opportunities for growth, with experienced collectors moving into supervisory roles, account management, or specializing in areas like legal debt recovery. It suits individuals who are tenacious, detail-oriented, and have strong interpersonal skills.

Job Satisfaction

Sources of satisfaction

Helping individuals and businesses resolve their financial obligations.
The challenge of negotiating and reaching mutually agreeable solutions.
Opportunities for professional growth in the financial services sector.

You might make a good Bill and Account Collector if you are...

Comfortable with making phone calls and negotiating.
Empathetic yet firm in your approach.
Detail-oriented and organized in record-keeping.
Interested in financial services and account management.
Able to adhere strictly to legal and ethical guidelines.

Pros:

Steady employment in various economic conditions.
Opportunities for bonus and commission based on recovery amounts.
Diverse work environments across many industries.

Cons:

The job can be stressful due to dealing with indebted individuals or businesses.
Potential for confrontational or difficult interactions.
The need to constantly navigate complex laws and regulations.

How to become a Bill and Account Collector

Typical education

Most employers require a high school diploma or equivalent for this role. On-the-job training is usually provided, with some employers preferring candidates with some post-secondary education or relevant work experience in customer service or finance.

High school preparation

Courses:

Business Studies to understand basic financial principles.
Mathematics for managing and calculating account details.
Psychology to develop skills in understanding and communicating with people.

Extra-Curricular Activities:

Joining debate or drama clubs to enhance communication skills.
Volunteering in community finance or aid programs.
Part-time jobs in customer service or administrative roles.

Preparation after high school

Courses or certifications in finance, accounting, or debt collection practices.
On-the-job training in customer service, finance, or debt collection.
Workshops or seminars on negotiation and conflict resolution.

More resources

ACA International - Provides resources and training for professionals in the debt collection industry.
National Association of Credit Management (NACM) - Offers education and certification programs in credit and financial management.
Consumer Financial Protection Bureau (CFPB) - Offers guidelines and information on fair debt collection practices.

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Similarity is based on what people in the careers do, what they know, and what they are called. The process of establishing similarity lists is described in this white paper.